Lilly Acquires CrossBridge Bio for $300M to Develop Next-Gen Cancer Treatments

The deal aims to bridge the gap in cancer care with CrossBridge's dual-payload antibody-drug conjugate technology.

Apr. 14, 2026 at 1:27pm

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A high-end, photorealistic studio still-life featuring a collection of polished, geometric objects in shades of gray and silver, conceptually representing the abstract ideas of cancer treatment, pharmaceutical innovation, and corporate strategy.Lilly's acquisition of CrossBridge Bio's dual-payload ADC technology aims to bridge gaps in cancer care and provide more effective treatments for patients.Houston Today

Eli Lilly is acquiring early-stage biotech CrossBridge Bio for an undisclosed upfront payment and up to $300 million in potential biobucks. CrossBridge is working on developing next-generation antibody-drug conjugates (ADCs) to target TROP2, a protein often overexpressed in solid tumors, with the goal of providing safer and more durable cancer treatments compared to currently available options.

Why it matters

The acquisition reflects Lilly's strategy to bolster its cancer drug pipeline and bridge gaps in current cancer care. CrossBridge's dual-payload ADC technology aims to overcome resistance mechanisms and improve outcomes for patients with limited treatment options, aligning with Lilly's focus on advancing innovative oncology therapies.

The details

CrossBridge Bio, formed in 2023 and based in Houston, Texas, is developing a lead ADC candidate called CBB-120 that targets TROP2. The biotech hopes CBB-120 will provide a safer and more durable cancer treatment compared to existing TROP2-targeting ADCs like Gilead's Trodelvy. CrossBridge plans to seek FDA approval to begin human trials of CBB-120 this year.

  • CrossBridge Bio was formed in 2023.
  • CrossBridge plans to ask the FDA for permission to start testing CBB-120 in humans sometime in 2026.

The players

Eli Lilly

A major pharmaceutical company that is acquiring CrossBridge Bio to bolster its cancer drug pipeline.

CrossBridge Bio

A small Houston-based biotech startup founded in 2023 that is developing next-generation antibody-drug conjugate technology, including a lead candidate called CBB-120 that targets the TROP2 protein.

Michael Torres

The CEO of CrossBridge Bio.

Gilead Sciences

A pharmaceutical company that markets the TROP2-targeting antibody-drug conjugate Trodelvy.

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What they’re saying

“We look forward to seeing how Lilly advances our new generation of dual-payload antibody-drug conjugates, including CBB-120, with the potential to meaningfully improve outcomes for patients with limited treatment options.”

— Michael Torres, CEO, CrossBridge Bio

What’s next

CrossBridge Bio plans to seek FDA approval to begin human trials of its lead ADC candidate CBB-120 sometime in 2026.

The takeaway

Lilly's acquisition of CrossBridge Bio reflects the pharmaceutical giant's strategy to bolster its cancer drug pipeline and address gaps in current cancer care. CrossBridge's dual-payload ADC technology aims to provide safer and more effective treatments for patients with limited options, aligning with Lilly's focus on advancing innovative oncology therapies.